Nov. 14 (Bloomberg) -- The National Basketball
Association’s players are meeting to discuss a league-offered
labor proposal that would end the lockout and lead to a 72-game
season beginning Dec. 15.

Joining National Basketball Players Association Executive
Director Billy Hunter at a midtown Manhattan hotel were player
representatives as well as All-Stars such as Kobe Bryant and
Carmelo Anthony. It’s the 137th day of a lockout, and it may be
the day team representatives agree to put the proposal to a vote
by the union’s 450 or so members.

The union is facing an ultimatum by league Commissioner
David Stern: accept the deal proposed Nov. 10 or have the owners
revert to an offer containing tighter limits that was rejected
by the union in June.

The league already has wiped out the first month of the
scheduled 82-game season, which was to begin Nov. 1. It would
take a month after reaching an agreement in principle to begin a
season because of how long it takes to complete the deal, hold a
free-agency period and perhaps play some preseason games, Stern
has said.

Stern and Deputy Commissioner Adam Silver sent a memo to
players yesterday and fielded questions about the proposal on
Twitter last night.

“It is now time to conclude our bargaining and make an
agreement that can stop the ongoing damage to both sides and the
countless others that rely on our game for their livelihoods and
enjoyment,” according to the letter, which was posted on the
league’s website. “We urge you to study our proposal carefully,
and to accept it as a fair compromise of the issues between
us.”

Splitting Revenue

The offer would give players 50 percent of basketball-related income from the league that made $4.3 billion in revenue
last season. Under the previous agreement, players got 57
percent of basketball-related income. Stern has said that the
league’s teams collectively lost at least $300 million in each
of the past three seasons.

The two sides have negotiated in recent weeks over the
system the league would operate under during the new deal,
including the salary cap, the length of contracts and issues
relating to the players’ freedom of movement between teams
through trades.

Hunter said on Nov. 10 that it the package being considered
was “not the greatest proposal in the world” but that he felt
obligated to present it to the union’s team representatives.